The New Jersey real estate market continues to evolve, balancing strong demand, rising prices, and a mix of new developments that are reshaping the Garden State’s residential landscape. As of November 2025, the median home sales price across the state has climbed to $550,000, up approximately 4.6% from last year, while inventory remains tight at just under three months’ supply. Homes are moving quickly, averaging only 19 days on the market before going pending, and in some areas, nearly 60% of properties are selling above the asking price.
Affordability remains a pressing challenge, particularly for first-time buyers. Nationally, the average age of a homebuyer is now 59, with first-time buyers averaging 40 years old, reflecting how high prices and limited inventory are pushing younger adults out of the market. Even those earning above-average incomes, like many New Yorkers seeking homes in nearby New Jersey towns such as Toms River, Brick, Freehold, and Jersey City, face stiff competition and rising costs.
Recent legislative changes are also influencing the market. The “mansion tax,” which applies to properties over $1 million, now falls on sellers rather than buyers, with progressive rates introduced for homes sold above $2 million. Meanwhile, the state has consolidated multiple property tax relief programs into a single application process to make benefits more accessible to residents.
Amid these dynamics, new developments are adding fresh opportunities for renters and buyers alike. One standout is Braddock Park West, a luxury rental building in North Bergen set to welcome residents starting December 1, 2025. Located in the desirable Woodcliff neighborhood and overlooking James J. Braddock Park, the building combines parkfront serenity with sweeping Manhattan skyline views and upscale design. The property features studio, one-bedroom, and two-bedroom layouts ranging from 500 to 1,400 square feet, many with private terraces or dens. Interiors include floor-to-ceiling windows, ten-foot ceilings, wide-plank hardwood floors, designer lighting, and chef-inspired kitchens with waterfall-edge quartz islands and energy-efficient appliances. Spa-style bathrooms, smart Wi-Fi, in-unit washers and dryers, and ample storage complete the residences, offering modern comforts alongside luxurious finishes.
Residents at Braddock Park West will enjoy a full range of amenities, including a concierge, keyless entry, co-working lounges, private meeting rooms, and a rooftop lounge with indoor and outdoor fireplaces, chef’s kitchen, and panoramic views. Fitness enthusiasts have access to a full gym, yoga studio, and boxing room, while pet owners benefit from an on-site pet spa and nearby dog park. Additional conveniences include garage parking, bike storage, and high-speed internet throughout the building.
With its unique combination of parkside tranquility and city-level amenities, Braddock Park West reflects a growing trend in New Jersey: high-end rentals designed to meet the needs of professionals, commuters, and families seeking modern lifestyles near urban centers. The property is now open for tours, providing potential residents a firsthand look at the curated residences and thoughtfully designed amenity spaces.
New Jersey’s real estate landscape is active and dynamic, from rising home prices and strong demand to ambitious new developments like Braddock Park West. While affordability challenges remain, the market continues to offer a diverse mix of opportunities for buyers, renters, and investors seeking quality properties and lifestyle-driven living in one of the most desirable states in the Northeast.
For more news on New Jersey housing trends, market data, and real estate developments, visit Explore New Jersey’s Real Estate section.
